International Monetary Fund (IMF) Director of Communications Julie Kozack said on Thursday that the Executive Board Meeting on Pakistan is expected to be held by the end of April.
In a press briefing in Washington, Kozack said: "Pakistan and the IMF reached a staff-level deal on March 19. The economic situation in Pakistan has improved".
She maintained: "Pakistan will be granted an overall $3 billion in line with the standby arrangement."
"The country has already secured $1.9 billion," she said.
– Pakistan, IMF enter final round of talks after one-day extension in negotiations –
Earlier last month, it was reported that the talks on an economic review between Pakistan and the international lender had been successful.
The two sides had reached a staff-level agreement on the second and final review under the stand-by arrangement, subject to the approval of the IMF’s Executive Board.
In an announcement, it was revealed that Pakistan will receive the last installment of $1.1 billion under a $3 billion loan agreement next month, following the approval of the IMF Executive Board.
As soon as the country received the last tranche, the current standby arrangement of $3 billion will expire. It had been reported that the IMF has lauded Pakistan's economic initiatives.
“Pakistan’s economic and financial position has improved in the months since the first review, with growth and confidence continuing to recover on the back of prudent policy management and the resumption of inflows from multilateral and bilateral partners," as per the statement issued by the IMF team lead Nathan Porter.
